- With Brexit fallout calming, Telefonica (TEF -0.4%) will look to list about 30% of UK wireless firm O2 this year, in what would be one of the London market's biggest IPOs of 2016, Reuters reports.
- The deal could value O2 at £10B and Telefonica chief Jose Maria Alvarez-Pallete is pressing banks to speed up work so that the offering could happen in December (still this year, but clear of the U.S. presidential election and its possible roiling of markets).
- The company's been considering what to do strategically with O2 since a sale to Hutchison was blocked on regulatory grounds.
- Telefonica had previously hired bankers Barclays, UBS and Morgan Stanley to go over the issue, sources said.